Union Pacific delivered a robust third quarter with adjusted earnings per share rising 12% year-over-year to $3.08, propelled by core pricing gains and notable operational efficiencies.

• Freight revenue excluding fuel reached a record high, marking the sixth consecutive quarter of growth, despite slight volume declines.
• Adjusted operating ratio improved to 58.5%, a 180 basis point enhancement from the previous year, reflecting operational excellence.
• Cash from operations totaled $7.1 billion, up 6% year-over-year, while the company paid down $1 billion in debt during the quarter.
• Union Pacific remains committed to prudent financial management, with a focus on reducing debt owing to merger-related costs and plans to resume share repurchases in the future.
• The company anticipates high single to low double-digit EPS growth over the next three years, despite facing a 6% decline in volumes for the fourth quarter.